Surveillance Radar Market Size, Share, Trends And Growth Forecast To 2032

The Business Research Company's Surveillance Radar Global Market Report 2023 identifies the increasing military expenditure is expected to propel the growth of the surveillance radar market going forward. Military expenditure refers to the quantity of financial resources allotted by a country to building and maintaining an armed force or other necessary defense measures. The modernization and infrastructure development of the defense services primarily drives the increasing military expenditure. Increased military expenditure drives research, development, and procurement of advanced surveillance technologies, leading to technological advancements and market growth in the surveillance industry.

The global surveillance radars market is expected to grow from $8.28 billion in 2022 to $9.07 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The surveillance radars market is expected to reach $12.81 billion in 2027 at a CAGR of 9%.

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Major players in the surveillance radar market are Raytheon Company, The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems plc., Thales Group, Leonardo S.p.A, L3HARRIS Technologies Inc., Serco Group plc, Elbit Systems Ltd., Israel Aerospace Industries Ltd., SAAB AB, FLIR Systems Ltd., ASELSAN A.S., Hensoldt AG, Cobham plc, SRC Inc., Therma A/S, Telephonics Corporation, Exelis Inc., RADA Electronic Industries Ltd., Kelvin Hughes Limited, Reutech Radar Systems, DeTect Inc., Blighter Surveillance Systems Ltd., and Echodyne.

Product innovation has emerged as a key trend gaining popularity in the surveillance radar market. Major companies operating in the surveillance radar market are concentrating on developing innovative products to strengthen their position in the market. For instance, in March 2021, Thales Group, a France-based technology company, launched the new digital secondary radar RSM-NG, a new meta-sensor for safer air traffic management. The RSM NG combines ADS-B and radar data (Mode S) for quicker track initialization and higher-quality, more reliable information. The radar can simultaneously share 64 data outputs with several air traffic control centers while tracking up to 2,000 flight paths. The radar uses cutting-edge digital technology to give airports superior performance, cyber protection, and reduced life-cycle costs.

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The Surveillance Radar market is segmented -
1) By Component: Antennas, Transmitters, Power Amplifiers, Receivers, Duplexers, Digital Signal Processors, Other Components

2) By Radar Type: Short Range, Medium Range, Long Range

3) By Platform: Airborne, Ground, Space, Naval

4) By Application: Commercial, Military, National Security, Aerospace, Maritime, Other Applications

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Surveillance Radar market.

The Business Research Company's "Global Surveillance Radar Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Surveillance Radar Market Include:
1. Executive Summary
2. Surveillance Radar Market Characteristics
3. Surveillance Radar Market Trends And Strategies
4. Surveillance Radar Market - Macro Economic Scenario
5. Surveillance Radar Market Size And Growth
.....
26. Africa Surveillance Radar Market
27. Surveillance Radar Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Surveillance Radar Market
29. Surveillance Radar Market Future Outlook and Potential Analysis
30. Appendix

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